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Monthly Update

August 2017 O&G Wrap

By Neil Ritchie

Consolidations – planned and possible – look to continue in the New Zealand energy industry as participants contemplate what the future may look like for the new and remaining participants.

Top of the hoped-for list is confirmation by Royal Dutch Shell regarding Shell New Zealand’s likely exit from this country as part of its parent’s review of its global operations.

NZ O&G July 2017 Wrap

By Neil Ritchie

Energy analysts and industry insiders are waiting for the imminent announcement by Royal Dutch Shell on the sale of its remaining New Zealand assets that could command a total sale price of $NZ1 billion or more.

Companies rumoured to be interested in some Shell New Zealand assets range from large listed multinational corporations such as Austrian giant OMV and Canada’s Vermilion Energy to smaller private New Zealand firms like Greymouth Petroleum.

June 2017 O&G Wrap

By Neil Ritchie

May 2017 NZ O&G Wrap

By Neil Ritchie

The composition of the New Zealand energy sector continues to change, with “gentailer” Genesis Energy acquiring Nova Energy’s retail liquefied natural gas (LPG) business for $NZ192 million, giving the country’s biggest electricity retailer almost a fifth of the LPG market.

The deal will increase Genesis's share of retail LPG from three percent to 19 percent, making it the second largest player (by customers) in the market, behind Contact Energy.

April 2017 O&G Wrap

By Neil Ritchie

Shell New Zealand has started the much anticipated sale of its Kiwi petroleum exploration and production assets, with long-time partner Todd Energy taking complete control of the onshore Taranaki Kapuni natural gas field, while Shell takes over all of operating company Shell Todd Oil Services.

The deal, announced in early April, sees the Todd Corporation subsidiary relinquishing its half stake in Shell Todd Oil Services (STOS) while taking complete ownership of, and operatorship of, the Kapuni field.

March NZ O&G Wrap

By Neil Ritchie

February 2017 NZ O&G Wrap

By Neil Ritchie

Jan 2017 - NZ O&G Wrap

By Neil Ritchie

The New Zealand energy industry continues consolidating its activities as 2017 dawns despite recent rebounds in the world price of oil to over US$50 per barrel. However, commentators say this is to be expected as diversification now dominates a still energy-dependent world.

Australian energy giant Origin Energy is selling its New Zealand interests in the offshore Taranaki Kupe gas-condensate field and in the offshore Canterbury Basin.

December'ish NZ O&G Wrap

By Neil Ritchie

The New Zealand energy industry looks to be in reasonably good health as it contemplates the New Year. While there may be another surprise or two during 2017, nobody wants any more shocks given recent events.

These include the earthquakes and associated aftershocks, as well as the precautionary shutdown of the Maari oil field due to a fatigue crack in one of 12 horizontal struts of the offshore Taranaki wellhead platform, which is due to be shut down anyway in early December to allow the installation of a water injection flowline to be completed.

November 2016 O&G Wrap

By Neil Ritchie

The New Zealand energy sector remains rather subdued as summer approaches, though there are certainly some signs of activity – both offshore and onshore – and not just in Taranaki, the country’s only commercial energy region.

As outlined by EnergyStream last month, the Norwegian Petroleum Geo-Services(PGS) survey ship PGS Apollo arrived in New Zealand waters during mid-October.